Section 8 in The Karnataka Prohibition Of Charging Exorbitant Interest Act, 2004
8. Adjustment of Interest.
- The Court may, on a petition filed by the debtor for settlement of loan including the interest therefor, pass an order for the adjustment of the interest, if any, paid by the debtor, over and above the rate of interest fixed by the State Government under section 28 of the Karnataka Money Lenders Act, 1961, towards the loan.
